Is Adagene (ADAG) Outperforming Other Medical Stocks This Year?

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Adagene Inc. Sponsored ADR (ADAG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Adagene Inc. Sponsored ADR is a member of the Medical sector. This group includes 974 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Adagene Inc. Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ADAG's full-year earnings has moved 10.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, ADAG has moved about 4% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 2.4% on average. As we can see, Adagene Inc. Sponsored ADR is performing better than its sector in the calendar year.

Another stock in the Medical sector, CorMedix (CRMD), has outperformed the sector so far this year. The stock's year-to-date return is 66.9%.

In CorMedix's case, the consensus EPS estimate for the current year increased 30.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Adagene Inc. Sponsored ADR belongs to the Medical - Biomedical and Genetics industry, which includes 486 individual stocks and currently sits at #102 in the Zacks Industry Rank. Stocks in this group have gained about 3.8% so far this year, so ADAG is performing better this group in terms of year-to-date returns. CorMedix is also part of the same industry.

Investors interested in the Medical sector may want to keep a close eye on Adagene Inc. Sponsored ADR and CorMedix as they attempt to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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